trading aug 17 afternoon

Good afternoon traders

A positive start for our local market , though not as strong as the futures had pointed to though a slow grind up is finally reaching the +24 area . The day is still young or will we get the Friday fade??? DOW futures may give some clues.

The heaviest trading has been in QBE which reported this morning and obviously didn’t impress investors and was promptly sent off to the woodshed for a session of whooping.
ORL was already in the woodshed getting a caning for divulging to the market ,after its trading halt , that it would cease to have exclusive licence rights to Ralph Lauren in Australia after june 13.
Both QBE and ORL have had nice bounces off their lows.

WES added to yesterdays gains and WOW must be getting some tail winds from wes as the whole sector is the best performing. Market also liked STO s reporting.

A few speculative plays are running again with the likes of LOM , MAT, SIR, PEX & SBR well done holders if you got a ride on these bucking broncos.

Asian markets are positive with the Nikkei and Hang seng both up 0.60 %

DOW Futures -4

Have a good arfternoon trading